Related topic: Santander

Aimie Jo Shutt, national key account manager at Santander, explains how lenders can demonstrate integrity and give confidence that they sit firmly behind brokers in times of...

New business and product transfer fixed rates will increase by up to 0.53%.

63% of borrowers say they could not have completed the homebuying process without a broker.

The increases reverse many of the rate cuts introduced early last week.

The bank has announced a range of rate reductions across higher LTV first-time buyer products – including its new 98% LTV My First Mortgage.

The new proposition allows eligible first-time buyers to borrow up to 98% LTV, with a minimum deposit of £10,000.

The lender is offering the lowest 95% LTV rate currently available on the market following the reductions.

Merritt was previously director of mortgages at Yorkshire Building Society and executive director at Accord. 

52% of UK adults said they found saving money for a deposit to be the biggest barrier to buying a property.

Purchase, remortgage, home mover and buy-to-let rates are all affected by the latest increases.